Bimini Capital Management (OTCMKTS:BMNM) Releases Quarterly Earnings Results

Bimini Capital Management (OTCMKTS:BMNM) announced its quarterly earnings results on Thursday. The financial services provider reported $0.34 EPS for the quarter, Zacks reports. The business had revenue of $4.84 million for the quarter. Bimini Capital Management had a return on equity of 11.89% and a net margin of 5.98%.

Bimini Capital Management Stock Performance

BMNM remained flat at $3.11 on Friday. The company’s stock had a trading volume of 754 shares, compared to its average volume of 2,909. The stock has a market cap of $31.32 million, a PE ratio of 34.56 and a beta of 0.05. The company has a 50-day simple moving average of $3.23 and a two-hundred day simple moving average of $2.14. The company has a debt-to-equity ratio of 2.96, a current ratio of 0.11 and a quick ratio of 0.11. Bimini Capital Management has a 52 week low of $0.60 and a 52 week high of $3.89.

Bimini Capital Management declared that its Board of Directors has approved a share repurchase program on Thursday, March 12th that allows the company to repurchase $2.50 million in shares. This repurchase authorization allows the financial services provider to reacquire up to 7.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Bimini Capital Management Company Profile

Bimini Capital Management, Inc, through its subsidiaries, operates as a specialty finance company in the United States. The company operates in two segments, Asset Management and Investment Portfolio. The Asset Management segment includes investment advisory services by Bimini Advisors to Orchid Island Capital, Inc and Royal Palm Capital, LLC. The Investment Portfolio segment engages in investment activities conducted by Royal Palm Capital, LLC. It invests in residential mortgage-backed securities.